Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology announced that sotrovimab retains neutralizing activity against all tested SARS-CoV-2 variants, including Omicron. Preclinical data published on bioRxiv showed a reduction in neutralizing activity for most monoclonal antibodies against Omicron, but sotrovimab and five other mAbs maintained their effectiveness. The company's strategy targets a highly conserved region of the spike protein, aiding in its efficacy. Sotrovimab is authorized for emergency use in several countries and is undergoing further clinical trials to explore its broader applications and regulatory approvals.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced the first patient dosing in a Phase 2 clinical trial targeting chronic hepatitis B virus (HBV) infection. This trial assesses novel combinations, including VIR-2218, an investigational RNA interference therapy, and Gilead's selgantolimod and nivolumab, among others. With an enrollment of about 120 patients, the primary goal is to evaluate the potential for a functional cure, defined by a specific loss of HBV markers. The trial adds to Vir's broader HBV development program, which includes multiple ongoing trials.

Vir Biotechnology announced a conference call on December 7, 2021, at 8:30 am ET, to share new data regarding sotrovimab's effectiveness against the Omicron variant of SARS-CoV-2. The call will highlight how sotrovimab maintains its activity against various mutations in the spike protein of the Omicron variant. Interested participants can join the call via telephone or access a live webcast on the Vir website, where it will also be archived for 30 days.

Vir Biotechnology (Nasdaq: VIR) and GlaxoSmithKline announced significant findings in preclinical tests of sotrovimab against the Omicron variant of SARS-CoV-2. Results show that sotrovimab retains activity against all tested variants, including Omicron and Delta. The COMET-ICE trial indicated a 79% reduction in hospitalization or death for treated patients. Sotrovimab is authorized for emergency use in the U.S. and various other countries, with further regulatory applications pending in Europe.

GlaxoSmithKline and Vir Biotechnology announced preclinical results showing that their monoclonal antibody, sotrovimab, maintains efficacy against all tested SARS-CoV-2 variants, including key mutations of the Omicron variant. This data suggests that sotrovimab could be a viable treatment option as the virus continues to mutate. The companies are finalizing in vitro pseudo-virus testing to further confirm these findings. Sotrovimab is currently authorized for emergency use in several countries, including the US, and has shown significant efficacy in clinical trials, with a reported 79% reduction in hospitalization rates.

Vir Biotechnology (VIR) and GlaxoSmithKline have secured US government contracts worth approximately $1 billion for the purchase of sotrovimab, a monoclonal antibody for COVID-19. This agreement aims to enhance nationwide access to the treatment, with a total of over 750,000 doses contracted globally. Clinical trials indicated a 79% reduction in hospitalization and death risk in high-risk patients. Sotrovimab shows efficacy against the Delta variant and is authorized for specific patient groups, amidst ongoing evaluations in response to evolving COVID-19 variants.

Vir Biotechnology released new data on its investigational HBV therapies, VIR-2218 and VIR-3434, showing significant reductions in hepatitis B surface antigen (HBsAg) levels and positive safety profiles. Preliminary results from ongoing clinical trials demonstrated that 95% of participants receiving VIR-2218 with PEG-IFN-α achieved HBsAg levels below 100 IU/mL. The data will be presented at the AASLD Liver Meeting 2021. The company aims for a functional cure for the 290 million chronic HBV patients worldwide, with a robust pipeline of ongoing trials.

The COMET-TAIL Phase 3 trial results indicate that sotrovimab, administered intramuscularly, is non-inferior in efficacy to intravenous administration for treating mild-to-moderate COVID-19 in high-risk non-hospitalized patients. The trial enrolled 983 participants during the Delta variant wave, with a hospitalization/death rate of 2.7% for IM versus 1.3% for IV. The adjusted difference fell within the pre-set 3.5% margin established with the FDA. Both groups showed low adverse event rates. Regulatory submissions are planned globally, highlighting sotrovimab's potential to enhance treatment accessibility.

Vir Biotechnology reported significant progress in the third quarter of 2021, securing binding sales agreements for over 420,000 doses of sotrovimab, generating $102.4M in collaboration revenue from more than 50,000 doses delivered. The company anticipates key fourth-quarter milestones, including topline data on sotrovimab's intramuscular administration and new hepatitis B data. Net income soared to $110.4M or $0.85 per share, compared to a loss of $84.6M in the same quarter last year. As of September 30, cash and equivalents were approximately $939.5M.